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Response to MannyGoldstein (Original post)

Mon Dec 15, 2014, 02:31 AM

49. No.

I've been watching her closely since reading her book and she's come off as a demagogue of the highest order. She got seniority almost right away. Has introduced no substantive legislation to solve the problems that she decries, and generally rails on other administrators who are doing the best job that they can.

It reminds me of her first Banking, Housing and Urban Affairs Committee hearing how she asked about if anyone was going to trial and kept repeating it over and over as if it was a solution to something. Asking it of administrators, people whose entire lives have been doing administrative work, following policies already implemented by the previous administrators, and implementing changes as legislated by politicians like Warren. Here's a hint, the only administration on the panel with enforcement power was the SEC, who is the most rebuffed administration in the country when it comes to crony judges overturning them.

She then snidely goes down the list of panelists asking them what they have done, who they took to trial, when she gets a response that the administrations' powers in questions can't do that, she "moves on" down the list of administrators. Then she asks why banks trade at below book value, very sensible question and implication (if you break up the banks and they aren't cooking their books, then the total conglomeration of the book value of the banks goes up; Citigroup is actually considering doing this to itself, GM at least did it to itself and its own financial service subsidiary).

1:52 here.

It went further at the later Federal Reserve hearing where she grilled Yellen and acted as if the Federal Reserve was failing to do proper analysis on banks' living wills, when all it would take for Warren is to go after the banks themselves through legislation to assure that the banks provided comprehensive living wills themselves via a third party, as opposed to forcing the Federal Reserve to go over tens of thousands of pages of paperwork.

It's all talk, bluster, it reminds me of another Senator who ran with amazing rhetoric that got millions of people to rally around them. Similar backgrounds, too, no real early aspirations to lead, no real early aspirations to hold public office. Just the whole academic / community organizer approach to things.

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